Oh, whatever.
So we are going to have a “Republican” president in 2022 then?
Shhhhhhhhhh! Speak vewy vewy quietly so nobody notices. Lookest thou over there. I see a unicorn.
That's my story and I'm sticking to it.
The line graph of the three “news”papers shows me that mainstream media seems to take its orders from one source. A deficicit that is “way down” to only a half trillion dollars a year seems like a big problem to me. This is especially true hen you consider that most of the decrease comes from reduced funding of the military after Obama surrendered in all of our wars.
If the GOPe wins in 2014 and 2016, you’ll see it skyrocket because the Progressive GOPe are bigger Keynesians than the Socialist Democrats.
Who the hell is Al Kamen? Paul Krugman’s star student? He acts like half a trillion dollars is nothing.
Our dishonest government accounting system does not take into account accruing liabilities that are many times larger than the cash deficit. If those are taken into account, as businesses must do, the USA’s fiscal gap is more like $200 Trillion... But let’s not allow reality to interfere with the ongoing economic fantasy of our feel-good consumption orgy.
This dumbass snarks away at those of us who criticize deficits, then crows about how the deficits are lowered under the Wizard of Ozbama (mostly via effed-up accounting, but I digress). He says it’s despite budget battles, etc, failing to mention the sequestrations. The latter is THE primordial factor in any deficit reduction we’re experiencing. The Wizard’s hands were tied by the dug-in House conservatives.
Commodities of all kinds that have a worldwide market are skyrocketing in terms of the declining value of the US dollar. Those prices do not reflect any actual shortages. Those deficits buy more stuff for the government than than those inflated dollars buy later for you and me.
The CBO last week said if nothing changes the deficit would 106% of GDP by 2039. No worries mate
I’m not buying that the deficit is going to increase beginning in 2016.
The reason I’m not buying this is because while the CBO likely got the spending increases right—they underestimated the revenues coming in.
The fracking revolution for example is adding about 400 billion to the economy currently but in only 2-3 years that number will rise to one Trillion.
Revenues to the government from oil related enterprise will rise to 300 billion or so.
The USA is headed for the much country that preceded 1970 when oil peaked
